It is so crucial right now to talk about security deposits, with post-pandemic repercussions, and landlords who are still sensitive about this topic after many tenants have left their offices last year. It is top of mind for everyone right now. Landlords are wondering if they have enough in security, and tenants are wondering how […]
F is for…
I am shocked at how often I’m hearing this word. It is part of most conversations with tenants these days. I understand where it is coming from, but its frequency is what is shocking to me. The word? Flexibility. It’s being driven by an inability to forecast how people will work coming out the other […]
One Year Post-COVID Outbreak: NYC Office Market Update
It’s been a long 12 months. Spring is in the air, and New York is waking up after a long nap. But, the landscape seems different. Yes, people are starting to come back into the city but everyday office occupancy is still hovering around 15%. Some businesses are operating within a hybrid model, having their staff in the office […]
Office Leasing: The Key Dates You Need To Know
When I started listening to Earth, Wind & Fire’s ‘September,’ I never thought that I would one day be writing about its relationship to real estate and office leasing, but here I am. Specifically, the first line, “Do you remember…” Office tenants spend a ton of time and money negotiating their leases for office space. […]
3 Ways to Save Your Business If Your Lease is Crushing You
It is heartbreaking when you get that call from a client or friend who has Manhattan office space and the call goes something like this: “I absolutely love my office. But I am the only one who is using it right now? My employees do not feel comfortable coming back at the moment, but I […]
How To Break Up With Your Landlord If You Have Office Space
Do you have office space in NYC? Maybe you no longer need it. You want to turn to your landlord and just say:
“I’m outta here. It’s not going to work out between us.”
But Neil Sedaka was right and “Breaking up is hard to do.”
Ending a lease early can present a whole host of challenges like:
Eating your rent when you’re not even physically there (like a lot of folks right now. Paying a premium on cancellation. Losing your security deposit. And, perhaps even sometimes legal action.
But sometimes, you just need to do what is best for you. So let’s talk about your options.
Here are the four things you can do to end your lease or at least reduce your financial obligation if you have office space in Manhattan.